Fpf Workflow Procedural Guide Test 1
This is the first of 3 tests that you must complete to show that you fully understand the concepts, policies, and procedures of the FPF Workflow Procedural Guide.
- 1.In what case does a business email address need to be listed in social media?
- A.
If you leave a post on a Facebook friend's wall.
- B.
If any FPF employee makes reference to their profession or makes any reference to mortgage lending in social media, they must list their business email on those sites.
- C.
If you open a Twitter account to share inspirational quotes.
- 2.What is the required login frequency required by FPF to ensure transactional responsiveness?
- A.
Once a day on normal business days
- B.
No less than twice daily on normal business days
- C.
No less than 5 times daily on normal business days
- D.
6 times per weekend
- 3.What three prerequisites must be met prior to installation of Encompass360 and obtaining Lenny Login Credentials?
- A.
Proper licensure if a Persona requires licensure
- B.
Buying a new laptop computer
- C.
FPF Workflow Procedural training and testing
- D.
Signed Information Security Acknowledgement
- E.
Installing iris scan software on your computer
- F.
A 7 day waiting period after updating your email
- 4.In short, the eFolder in Encompass360 is:
- A.
Accessible only from iPad
- B.
Where you find a loan approval
- C.
A new feature in Lenny
- D.
A secure, paperless document management system
- 5.All information requests or notices must be logged in the eFolder.
- A.
True
- B.
False
- 6.What 2 things must be done when receiving “hard copy” documents from Consumers?
- A.
Scanned and uploaded to the proper placeholder within the eFolder immediately.
- B.
Mailed to corporate office upon successful upload.
- C.
Scanned into your computer hard drive.
- D.
Shredded upon successful upload.
- E.
Stored in your refrigerator after opening.
- 7.Original “hard copy” documents must be:
- A.
Stored in a fire safe vault.
- B.
Burned after upload.
- C.
Mailed back to the customer.
- D.
Locked in a secure filing cabinet until being returned to the applicant.
- 8.What is the most efficient and secure means of gathering Consumer information?
- A.
FedEx
- B.
United States Postal Service
- C.
The Loan Center
- D.
E-mail
- 9.What loan products are eligible for eSigning?
- A.
VA Loans
- B.
USDA Loans
- C.
Conventional Loans
- D.
FHA Loans
- E.
Hard Money Loans
- 10.What is the most efficient, secure method for a consumer to “wet sign” loan disclosures?
- A.
E-mail
- B.
In Lenny
- C.
Adobe Connect
- D.
EFolder Download, print and fax with bar-coded coversheet.
- 11.Where are “wet signed” documents automatically placed after being faxed with the toll free bar-coded cover sheet?
- A.
Unassigned placeholder of the eFolder
- B.
Your email inbox
- C.
In Lenny
- D.
The New Documents placeholder of the eFolder
- 12.Name two of four ways a User is notified that they have received documents they have requested from the consumer.
- A.
User gets an email notifying them of new documents
- B.
There is a green alert inside the Encompass360 pipeline
- C.
SMS text message to your cell phone
- 13.Mavent is a:
- A.
Character in "Gone with the Wind"
- B.
Integrated quality assurance system
- C.
Superhero from the planet Krypton
- D.
Flood certification system
- 14.How many FPF configured “hard stops” are provided to make processing the application more efficient and accurate?
- A.
6
- B.
7
- C.
1
- D.
9
- 15.Milestones are:
- A.
Communication points in Lenny
- B.
Points earned for closing loans
- C.
Specific times when an application is handed off, or advanced from one Persona to the next for a specified function to occur.
- D.
Along the side of Route 80
- 16.UC’s are:
- A.
Undercover Cops
- B.
Use Cases, a documented, organic ledger of the entire FPF technical workflow.
- C.
Underwriter Counteroffer, a documented ledger of a counteroffer
- D.
University of California
- 17.Whose corporate responsibility is it to pursue continuing education requirements to remain informed about changing regulations and requirements?
- A.
Chief Performance Officer
- B.
Chief Financial Officer
- C.
Chief Compliance Officer
- D.
Chief Executive Officer
- E.
Director of Business Development
- 18.Whose job is it to Monitor branch P&Ls to ensure profitability and to advise the CFO of adverse financial concerns or trends?
- A.
Corporate Branch Advocate
- B.
Chief Compliance Officer
- C.
President
- D.
Corporate Branch Administrator
- E.
Hammer
- 19.Whose job is it to Report any adverse activities or noncompliant activities to the CCO or Board Members?
- A.
President
- B.
Corporate Branch Administrator
- C.
Director of Business Development
- D.
Director of Processing
- 20.Whose job is it to visit remote branch locations every 6 months to perform facility inspections for information security?
- A.
Men in Black
- B.
FPF Business Representatives
- C.
FPF Account Representatives
- D.
Chief Compliance Officer
- 21.What types of files will be searched for on PC’s to determine the security of digital consumer documentation?
- A.
Internet browser history
- B.
PDF’s or other digital image types
- C.
Photos and Videos
- D.
Microsoft Office Documents like Word and Excel
- 22.What is the FPF policy related to storing electronic documentation on PC’s?
- A.
It must be password protected
- B.
It must be in a folder marked "FPF"
- C.
It is not allowed
- D.
Old documents must be deleted after 90 days
- 23.Whose job is it to approve all advertising?
- A.
Corporate Branch Administrator
- B.
Chief Compliance Officer
- C.
Director of Business Development
- D.
Corporate Branch Director
- 24.Branch Directors and MLO’s are strictly prohibited from representing themselves as:
- A.
Realtors
- B.
Owners
- C.
Certified Mortgage Planning Specialists
- D.
Most Trusted Loan Officers
- E.
Corporate Officers
- 25.Branch Directors can represent the authority to hire or terminate employees in the licensed facilities they oversee.
- A.
True
- B.
False
Questions: 16 | Attempts: 57 | Last updated: Feb 18, 2013
-
Sample QuestionThe Accounts Payable process records and administers accounting data for all vendors.
Questions: 5 | Attempts: 43 | Last updated: Feb 15, 2013
Questions: 19 | Attempts: 37 | Last updated: Jan 24, 2013
-
Sample QuestionFollowing is the default activity availabel while a developer uses a Visual Studio to create a sequential workflow.
Back to top